After all the analyst upgrades came I said the reason for them is some big boy holding a lot of shares wants to unload a large position and doesn't want to the price to collapse just yet. This is obvious because analysts are wolves in sheeps clothing who pray on the unsuspecting public.
Today we learned FMR LLC (aka Fidelity) sold a whopping 240,000 shares worth nearly $4.5 million. Those shares were likely sold to unsuspecting retail investors buying the stock on its recent strength and analyst upgrades. I suspect more large sales to come in the weeks leading up to earnings. The reason for that is because earning will be poor and the price will collapse so the rich and wise will be selling now. I think this treads above 18 in the short term on ridiculously low volume. The next day we have with large volume (over 1.5 million shares traded) will be a giant red candlestick gapping down $1.50 minimum. The questions is when does that day come? If we get a day with large volume and gap up into 20s I'll start getting concerned. For now the only way it goes into the 20s in on low volume manipulation. If that happens I won't sweat a bit. I have $200k ready to short more at that price. Christmas to the patient shorts is coming. Greedy longs who didn't sell at this ridiculous price will look back months from now wondering why they didn't take profits when this had a $2+ billion market cap and why they ignored all the signs of impending doom.
I was referring to the future price action and volume events not the past. I am well aware of how things unfolded but never let the past come into play when making my future predictions. I said if from here we see a rise on above average volume I'd be concerned. I didn't say the rise on above average volume concerned me. I expected what happened with all the pumping analysts had been doing. The retail investor isnt extremely educated and play into the market games many times.
Now as for today. It could have been a blood bath but wasn't. The crash to 7.44 when one big boy dumped his shares is a sign of things to come. Today it traded down on above average volume. It will continue lower in the days and weeks to come. The jig is up, profits will start to be taken before Q1 earnings because the big players know what's coming. More insiders will sell and more days like today will follow. Consider yourself lucky it closed above 18. If it goes up I'll short more. I bought some back in the 7.90 because I had a feeling it would be supported from a disastrous collapse. All this happened on a day the market was up over 100 points. Wait till a day the market is taking a 100+ point beating. Don't be surprised to se 10+% drop in one day. It'll happen, soon enough, it'll happen.